Find the following values. Compounding/discounting occurs annually, Do not round intermediate calculations. Round your answers to the nearest cent. a. An initial $500 compounded for 10 years at 8%. 5 b. An initial $500 compounded for 10 years at 16%. 5 C. The present value of $500 due in 10 years at 8%. 5 d. The present value of $2,970 due in 10 years at 16% and 8%. Present value at 16%:5 Present value at 8\%: $ e. Define present vahue. 1. The present value is the value today of a sum of money to be received in the future and in general is less than the future value. II. The present value is the value today of a sum of money to be received in the future and in general is greater than the future value. III. The present value is the value today of a sum of money to be received in the future and in general is equal to the future value. IV. The present value is the value in the future of a sum of money to be received today and in general is less than the future value. v. The present value is the value in the future of a sum of money to be received today and in general is greater than the future value. How are present values affected by interest rates